ROCKLIN, Calif. – Addison Avenue Federal Credit Union has combined its nationwide branch operations and investment access centers under one roof in an effort to simplify member interaction and streamline management levels. The $1.7 billion credit union, through its investment subsidiary Addison Avenue Financial Partners (AAFP), offers its 124,000 members access to products and services through CUSO Financial Services, LP. AAFP President/CEO Scott Davis, has assumed an additional role as retail sales and operations manager for the combined organization overseeing operations of the credit union’s nationwide branch operations and investment access centers. Through CUSO Financial, AAFP currently manages $1.09 billion in assets and serves more than 17,600 clients. The credit union’s previous integration efforts “have been extremely successful” as validated by the Raddon data that shows member deposit and loan balances are nearly double in average size if a member also has an investment account with the credit union,” said Peter Snyder, chief operating officer and operations manager of Addison Avenue FCU. “It’s not because of the investment relationship (but) the synergies gained when you deepen a relationship with `meaningful’ dollars,” Snyder said. “We know that if we go to the next step and have both sales teams report to the same manager that the synergies should continue to improve.” The integration follows the credit union’s restructuring its national regions nationwide from four to three and streamlining at the senior management level in an effort to “break down the silos between the `process side’ and the `member touch side’ of the organization,” Snyder said. “We are looking for our one sales team to be able to collaborate quicker as their integrated objectives are one in the same now,” he explained. “Additionally, our branch sales team is eager to migrate into a proactive sales environment while remaining member centric. Scott’s indepth experience in this area in previous years will be invaluable in helping the branch teams make the journey.” Combining branch operations and investment access centers in one department still requires great attention to whom can make referrals, Snyder said. “Referrals from unlicensed to licensed employees still require of course a good tracking system and, when in place at a credit union, a modest incentive and recognition system that is not connected to the outcome but rather the referral itself,” Snyder said. “Everyone has to be sure to take into account all of the various privacy concerns in making sure that the referral of the member is not a surprise for the member. It needs to be something that they are anticipating.” The CUSO has 14 investment representatives serving members at 13 investment access centers. Snyder said referrals between the two teams are up, as is consumer lending and investment business. “Of greatest significance is that the two teams have heard the message – from the top down – that we are in fact one team and there is no debate of “us or them” as so many credit union and bank programs have experienced,” Snyder said. In another department of the credit union, Gary Wahlgren was recently hired as the lending and shares operations manager. Prior to coming to Addison, he served as senior vice president and chief lending officer for USE Credit Union in San Diego. Addison Avenue Federal Credit Union expanded its charter and changed its name in 2002 from HP Employees FCU. Mainly serving employees at Hewlett Packard, the credit union evolved over the years to serve a number of select employee groups. Addison Avenue was chosen to be included in the new name because it’s where Bill Hewlett and Dave Packard started their company in a small wooden garage. [email protected]

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